Posted by: kalidasbhaisaab November 16, 2014
Average savings/month
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I had asked similar question few months back in Sajha. Later found that there are many past threads where members had asked similar questions out of curiosity and for comparison purpose. IMO, one of the majority cluster of Nepali diaspora in US are people who came here as Students (Undergrads, Grads, Post Grads etc.) and many of them stayed. Most of them obtained their GC through employers (be it desi IT recruiting companies or directly through companies & universities for jobs where they are skilled). Anyways, my thread was responded by demographics who skew in their thirties (say, 28 years to 40 years of age) and have high paying jobs. By high paying jobs, I meat average high paying jobs like we observe in IT and not necessarily like those of successful Doctors, Lawyers and Industrial Scientists whose median earnings might be more. Neither did I mean semi-white collar workers like call center operative, desk clerk, account assistant at a professional firm, dealership accountant types whose earnings might be slightly lower compared to say, a developer / programmer in a Bank. So if you are asking about savings of a single person in such a group, I think it ranges in terms of lifestyle. If I was 28 years old and just 2- 3 years out of college, a single person, I would be more or less comfortable in my job, my H1B was secured I was almost about to obtain my GC I was earning approximately $4000 to $7000 after tax and living with room-mates. My monthly expenses would by a maximum of $2000 then I would save somewhere from $2000 to $3000 per month depending on my after tax income. But on the other hand, when I was single I would eat out more, go to Las Vegas and Tijuana more often, bar hop more often and buy those Express shirts that I hardly wore. Long story short, I saved less when I was single. After a stable immigration status, stable job, a working spouse and kids, life has more expenses but somehow better savings too. For two people working in the house, a kid and two dependent parents, you might still end up saving somewhere around $2000 a month. Now these are merely my experiences and opinion. People have different circumstances. Some people need to send more money back home, live in cosmopolitans where rents and mortgages are higher, manage 2 relationships (spouse and baharwala), go to casinos more often; then savings tend to deplete. Your take please. Also, I did not include many folks from our diaspora who own businesses. I have no way of finding out median income of those friends.
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